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Dollar General

123 W Market St, Bluffton, IN 46714

Listing Price: $325,000

Cap Rate
7.75%
Tenant Name
Dollar General
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
8,498
Lease Type
Double Net
Rent Per Square Feet
$2.97

Investment Overview

Marcus & Millichap is pleased to present for sale this Dollar General located in Bluffton, Indiana. The double net lease has approximately four and a half years remaining as part of a three-year renewal option commencing in 2023 along with a rental increase. The 8,498-square-foot property is part of a downtown row of storefronts and sits on a 0.22-acre parcel. The tenant has operated at this location since 1997. The landlord is responsible for roof, structure, snow removal, taxes, and insurance while the tenant reimburses for taxes, insurance, and snow removal. There was a recent $12,000 HVAC upgrade to the property. The building sits on West Market Street, seeing over 3,050 vehicles per day, and is situated near Main Street, the main thoroughfare in Bluffton seeing 19,494 vehicles per day. There is a dense retail corridor just north of the property featuring multiple national retail tenants such as Pizza Hut, Advance Auto, KFC, Dollar Tree, and Subway. Dollar General is a growing Fortune 500 company (#112) with revenue in excess of $27.8 billion in 2020. Dollar General is an investment-grade credit tenant with a Standard & Poor’s rating of BBB. Dollar General has over 16,979 discount stores in 46 states. The company offers basic household supplies, including cleaning supplies, health aids, food, and apparel. Most of the merchandise carried in the stores is priced between $1 and $35.

Investment Highlights

  • Four and a Half Years Remaining on Double-Net Lease After a Recent Six Year Extension
  • Strong Commitment to Location with Nearly 25 Years of Occupancy
  • Landlord Recently Invested $12,000 in HVAC Improvements
  • Tenant Reimburses Landlord for Taxes, Insurance, and Snow Removal
  • Corporate Guarantee | Investment Grade Credit Tenant | S&P: BBB
  • Situated in the Middle of Downtown Bluffton Near Multiple National and Local Tenants
  • Adjacent to N Market Street, Seeing Over 19,494 Vehicles per Day

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

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Dollar General

Listing Price: $325,000

Cap Rate
7.75%
Tenant Name
Dollar General
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
8,498
Lease Type
Double Net
Rent Per Square Feet
$2.97

Investment Highlights

  • Four and a Half Years Remaining on Double-Net Lease After a Recent Six Year Extension
  • Strong Commitment to Location with Nearly 25 Years of Occupancy
  • Landlord Recently Invested $12,000 in HVAC Improvements
  • Tenant Reimburses Landlord for Taxes, Insurance, and Snow Removal
  • Corporate Guarantee | Investment Grade Credit Tenant | S&P: BBB
  • Situated in the Middle of Downtown Bluffton Near Multiple National and Local Tenants
  • Adjacent to N Market Street, Seeing Over 19,494 Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to present for sale this Dollar General located in Bluffton, Indiana. The double net lease has approximately four and a half years remaining as part of a three-year renewal option commencing in 2023 along with a rental increase. The 8,498-square-foot property is part of a downtown row of storefronts and sits on a 0.22-acre parcel. The tenant has operated at this location since 1997. The landlord is responsible for roof, structure, snow removal, taxes, and insurance while the tenant reimburses for taxes, insurance, and snow removal. There was a recent $12,000 HVAC upgrade to the property. The building sits on West Market Street, seeing over 3,050 vehicles per day, and is situated near Main Street, the main thoroughfare in Bluffton seeing 19,494 vehicles per day. There is a dense retail corridor just north of the property featuring multiple national retail tenants such as Pizza Hut, Advance Auto, KFC, Dollar Tree, and Subway. Dollar General is a growing Fortune 500 company (#112) with revenue in excess of $27.8 billion in 2020. Dollar General is an investment-grade credit tenant with a Standard & Poor’s rating of BBB. Dollar General has over 16,979 discount stores in 46 states. The company offers basic household supplies, including cleaning supplies, health aids, food, and apparel. Most of the merchandise carried in the stores is priced between $1 and $35.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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